Published by Global Banking & Finance Review®
Posted on January 20, 2026
2 min readLast updated: January 20, 2026
Swedish exports to the US may drop by 28% due to proposed tariffs, severely impacting sectors like electronics and steel.
STOCKHOLM, Jan 20 (Reuters) - Swedish exports to the United States could fall by as much as 28% if President Donald Trump carries out his threat to impose additional tariffs on Sweden and some industrial sectors could see a decline of 50%, Sweden's Board of Trade said on Tuesday.
Trump has threatened tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain after they sent small groups of military personnel to Greenland at Copenhagen's request.
Trump has said tariffs will start at 10% on February 1, rising to 25% on June 1, and would continue until a deal is reached for the U.S. to purchase Greenland.
At the current level of tariffs, agreed between the EU and the U.S. last year, exports to the U.S. are expected to fall roughly 6% over the coming three to five years, according to the Board of Trade's estimates.
An additional 10% tariff would see total exports to the U.S. drop around 16%, rising to 28% at the highest tariff level.
Some sectors will be hit much worse than others. Iron and steel exports could fall 25% with the current level of tariffs and that could hit 45% if the top tariff level is implemented. Exports of electronics could fall as much as 50%.
The United States accounted for around 9% - or 186.5 billion Swedish crowns ($20.42 billion) - of Swedish exports in 2024. That made it Sweden's third biggest market after Germany and Norway.
Top exports are motor vehicles, machinery, pharmaceuticals and electronics.
Overall, Swedish exports globally could fall between 0.8% and 1.3% if the tariffs are implemented, the Board of Trade said.
($1 = 9.1319 Swedish crowns)
(Reporting by Simon JohnsonEditing by Keith Weir)
Export refers to the sale of goods or services produced in one country to buyers in another country.
Tariffs can lead to increased prices for imported goods, reduced trade volumes, and potential retaliatory measures from other countries.
Foreign currency is essential in international trade as it allows businesses to conduct transactions across different countries and currencies.
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